Valley Wealth Managers Inc. boosted its position in Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report) by 22.4% in the 4th quarter, Holdings Channel reports. The firm owned 132,363 shares of the company’s stock after buying an additional 24,243 shares during the quarter. Nexstar Media Group accounts for approximately 1.7% of Valley Wealth Managers Inc.’s portfolio, making the stock its 16th biggest position. Valley Wealth Managers Inc.’s holdings in Nexstar Media Group were worth $26,876,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in Nexstar Media Group by 13.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 642,609 shares of the company’s stock worth $127,070,000 after purchasing an additional 75,228 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Nexstar Media Group by 63.0% in the third quarter. Principal Financial Group Inc. now owns 488,292 shares of the company’s stock worth $96,557,000 after purchasing an additional 188,695 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Nexstar Media Group by 160.3% in the third quarter. Nisa Investment Advisors LLC now owns 12,131 shares of the company’s stock worth $2,399,000 after purchasing an additional 7,470 shares during the last quarter. CPC Advisors LLC bought a new stake in Nexstar Media Group in the third quarter worth about $2,207,000. Finally, Allianz Asset Management GmbH lifted its stake in Nexstar Media Group by 43.1% in the third quarter. Allianz Asset Management GmbH now owns 279,336 shares of the company’s stock worth $55,236,000 after purchasing an additional 84,163 shares during the last quarter. Institutional investors own 95.30% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have issued reports on NXST. Guggenheim raised their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Benchmark reduced their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Citigroup raised shares of Nexstar Media Group from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $252.00 to $220.00 in a research report on Friday, April 10th. Barrington Research reaffirmed an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.67.
Nexstar Media Group Stock Performance
Shares of NXST stock opened at $202.79 on Tuesday. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 43.52, a PEG ratio of 0.80 and a beta of 0.97. The company’s 50 day moving average is $212.04 and its 200 day moving average is $208.07. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 3.05. Nexstar Media Group, Inc. has a 52-week low of $164.00 and a 52-week high of $254.30.
Nexstar Media Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, May 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 159.66%.
About Nexstar Media Group
Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.
Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.
Read More
- Five stocks we like better than Nexstar Media Group
- Sell in May and Go Away—Starting With These 3 Stocks
- Before the Moon Base Gets Built, These 4 Companies Win
- Industrial Buybacks: Top Homebuilding Supplier Leads Buyback Increases
- 3 Stocks That Win If Inflation Surprises to the Downside
Want to see what other hedge funds are holding NXST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nexstar Media Group, Inc. (NASDAQ:NXST – Free Report).
Receive News & Ratings for Nexstar Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Media Group and related companies with MarketBeat.com's FREE daily email newsletter.
